Credit Suisse Reiterates Neutral Rating, Lowers Price Target On Pandora Media Following 4Q14 Revenue Report

In a report published Friday, Credit Suisse analyst Stephen Ju reiterated a Neutral rating on

, but lowered the price target from $24.00 to $21.00. In the report, Credit Suisse noted, "Pandora reported 4Q14 revenue of $268m below guidance of $273 - $278m while non-GAAP EPS of $0.18 was in line with guidance range $0.17 - $0.19. We maintain our Neutral rating and our target price is now $21 (vs. $24 prior). We maintain our Neutral rating and our target price is now $21. FY15 non-GAAP EPS is now $0.22." Pandora Media closed on Thursday at $18.41.